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Crude oil, gold drop after sentiment data

The Wall Street Journal -- NEW YORK (MarketWatch) -- Crude oil and gold futures turned lower in morning trade Friday after a survey showed U.S. consumers were less optimistic in March. Crude oil for April delivery was down 2 cents at $82.09 a barrel in electronic trade. It earlier rose to a high of $83.20 a barrel, lifted by the International Energy Agency's forecast for higher global oil demand. Gold for April was down 1.10, or 0.1%, at $1,107.10 an ounce, off a morning high of $1,119.50 an ounce.

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Submitted Mar 14, 2010 By: billbearAL

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DEG Champion Author Las Vegas Posts:12,833 Points:2,549,155 Joined:Jul 2003	Message Posted: Mar 14, 2010 9:45:57 PM Ignore DEG Report Abuse Oil is still double what is reasonable in this economy. [Edited by: DEG at 3/14/2010 9:46:13 PM EST]
Hunter114 Champion Author Chicago Posts:3,004 Points:492,370 Joined:Apr 2009	Message Posted: Mar 14, 2010 9:45:09 PM Ignore Hunter114 Report Abuse We need to get back on the gold standard and reverse course with this spending.
LexusLS400 Champion Author Orange County Posts:3,518 Points:707,600 Joined:Aug 2008	Message Posted: Mar 14, 2010 9:44:04 PM Ignore LexusLS400 Report Abuse I agree with AC-302
scrounger Champion Author Vancouver Posts:8,444 Points:2,243,565 Joined:Mar 2003	Message Posted: Mar 14, 2010 9:33:26 PM Ignore scrounger Report Abuse speculators cashing in???
ricker8 Champion Author Ontario Posts:2,332 Points:474,535 Joined:Oct 2008	Message Posted: Mar 14, 2010 9:31:45 PM Ignore ricker8 Report Abuse good
nimpy Champion Author Indianapolis Posts:4,127 Points:894,770 Joined:Oct 2007	Message Posted: Mar 14, 2010 9:31:42 PM Ignore nimpy Report Abuse and the prices just keep going up
flyfast Champion Author Kansas City Posts:4,521 Points:879,275 Joined:Jan 2008	Message Posted: Mar 14, 2010 9:28:42 PM Ignore flyfast Report Abuse it will go back for something
MinnesotaDJ Champion Author Minnesota Posts:1,254 Points:122,615 Joined:Feb 2010	Message Posted: Mar 14, 2010 9:24:00 PM Ignore MinnesotaDJ Report Abuse that's for sure!
Kamakani Champion Author Hawaii Posts:1,871 Points:577,980 Joined:Oct 2008	Message Posted: Mar 14, 2010 9:23:10 PM Ignore Kamakani Report Abuse We all could use a break.
min_fuel Veteran Author Philadelphia Posts:416 Points:229,675 Joined:Jan 2008	Message Posted: Mar 14, 2010 9:18:10 PM Ignore min_fuel Report Abuse Democrats and their 'spend money we don't have is coming to an end'. The market senses this and the Dollar will strengthen and Oil and Gold will drop in value.People who do not understand economics and have never run a company or made a payroll have seriously weakened the Dollar. The Health-care and Climate Change boondoggles have add to the confusion. $2.5 Trillion in new taxes on a depressed economy that will not reach 2005 employment levels until 2016. Look at Greece; debt equal to the the GDP and no one wants Greek Bonds, hence a Financial Crisis. The US, if it continues on it's current spending Spree, will have as much debt at the GDP, to about $19 Trillion. Then the Chinese will not buy our Bonds and the US will go the way of Great Britain, and the Chinese and Indians will be the powers of the 21st Century. The US will be like Russia, inept and broke. How do you like that Change Now?
jimgraham Champion Author Akron Posts:5,336 Points:1,007,555 Joined:Oct 2007	Message Posted: Mar 14, 2010 9:15:39 PM Ignore jimgraham Report Abuse up down up down up down up down up down up down up down up down - will it never end? Yes. When we all realize the US is BROKE....
copperhead8 Champion Author Boston Posts:10,769 Points:1,847,550 Joined:Dec 2004	Message Posted: Mar 14, 2010 9:15:09 PM Ignore copperhead8 Report Abuse The ongoing roller coaster ride of oil prices continues. The same with gold futures.
cutter1330 Champion Author Oklahoma Posts:3,141 Points:722,085 Joined:Jul 2005	Message Posted: Mar 14, 2010 9:12:13 PM Ignore cutter1330 Report Abuse Don't have any gold. But I do have a couple quarts of oil.....so head down oil
AC-302 Champion Author Los Angeles Posts:14,877 Points:1,947,685 Joined:Aug 2004	Message Posted: Mar 14, 2010 9:10:42 PM Ignore AC-302 Report Abuse I hardly consider 2 cents on oil and 0.1% relief to be any real "reduction". More like a minor fluctuation, at best.
rickfro Veteran Author San Diego Posts:337 Points:173,200 Joined:Nov 2008	Message Posted: Mar 14, 2010 9:08:08 PM Ignore rickfro Report Abuse I'm ready for the price to drop.
Goatroper Champion Author Dallas Posts:2,071 Points:418,140 Joined:Apr 2004	Message Posted: Mar 14, 2010 9:05:11 PM Ignore Goatroper Report Abuse Seems there is some correlation between the price of crude and gas....but it must be coincidental.
murphy50 Champion Author Colorado Posts:2,601 Points:1,607,215 Joined:May 2004	Message Posted: Mar 14, 2010 8:59:41 PM Ignore murphy50 Report Abuse We'll never see a reduction at the pump.
bby Champion Author Twin Cities Posts:1,809 Points:250,570 Joined:Nov 2009	Message Posted: Mar 14, 2010 8:58:54 PM Ignore bby Report Abuse But gas prices at pump shot up on Friday... There seems to be no co-relation!
saveongasNC Champion Author North Carolina Posts:3,287 Points:725,600 Joined:Aug 2008	Message Posted: Mar 14, 2010 8:57:35 PM Ignore saveongasNC Report Abuse Buy less pay less!!!
LilRedWagonIN Champion Author Indiana Posts:2,835 Points:607,055 Joined:Oct 2008	Message Posted: Mar 14, 2010 8:52:06 PM Ignore LilRedWagonIN Report Abuse This reports "morning trading" so unless you are a day trader, look at the last couple of quarters when both oil and gold have made major moves upward. If you know what will happen in another half year, maybe you believe in moonbats.
reeko Champion Author Dallas Posts:2,294 Points:559,715 Joined:Aug 2005	Message Posted: Mar 14, 2010 8:45:06 PM Ignore reeko Report Abuse only moonbats think speculation is a sin. yes, i am a speculator. trending now, i'm betting on: the dollar will go up against gold. gold will continue to drop. go long on the dollar as it has already started going back up on money markets, and will stay going up the closer to Novermber elections we get. the market senses that Dems and their foolish fiscal policies are coming to an end. soon. oil has probably leveled off for now. more and more supply-side finds will keep it at this level, or maybe even lower. ...and that's my tips for the week. ;) "Drill here. Drill now. Dig coal. Build nukes."
Minster Champion Author Wichita Posts:2,236 Points:782,390 Joined:Oct 2007	Message Posted: Mar 14, 2010 8:41:09 PM Ignore Minster Report Abuse it is good that oil prices are turning lower. what they will do next week know one knows.
TomT2Lee Champion Author Cincinnati Posts:3,470 Points:1,091,790 Joined:Sep 2005	Message Posted: Mar 14, 2010 8:36:11 PM Ignore TomT2Lee Report Abuse Too bad FordF2502001 that things have gone way to far. Continuing to try apply faulty logic means you will be completely unprepared when civilization takes a major turn down.
ccrb Champion Author Indianapolis Posts:8,706 Points:1,653,400 Joined:Aug 2003	Message Posted: Mar 14, 2010 8:34:51 PM Ignore ccrb Report Abuse Market...
FordF2502001 Champion Author Mississippi Posts:3,077 Points:668,125 Joined:Sep 2008	Message Posted: Mar 14, 2010 8:30:57 PM Ignore FordF2502001 Report Abuse Darth Cheney. Love it. Conserve and prices will drop. Pay off debt and prices will drop.
Jeeputtputt All-Star Author Cincinnati Posts:716 Points:182,695 Joined:Aug 2009	Message Posted: Mar 14, 2010 8:30:40 PM Ignore Jeeputtputt Report Abuse 10-4 Hybrid Pete gonna stay that way too...
katiejayWV Champion Author West Virginia Posts:1,270 Points:383,310 Joined:Nov 2008	Message Posted: Mar 14, 2010 8:28:13 PM Ignore katiejayWV Report Abuse Hold on to you wallets.
Number43 Champion Author Lexington Posts:3,527 Points:682,125 Joined:Oct 2008	Message Posted: Mar 14, 2010 8:23:26 PM Ignore Number43 Report Abuse All that is going on is the speculators selling and taking profits. This will depress prices and set up another buying frenzy. That's their plan.
TFowler513 Champion Author Memphis Posts:2,377 Points:589,535 Joined:Mar 2008	Message Posted: Mar 14, 2010 8:22:54 PM Ignore TFowler513 Report Abuse All manipulated by speculation!!!
Number43 Champion Author Lexington Posts:3,527 Points:682,125 Joined:Oct 2008	Message Posted: Mar 14, 2010 8:21:21 PM Ignore Number43 Report Abuse High gas prices make me less optimistic too.
Pete12 Champion Author Albany Posts:1,928 Points:796,150 Joined:Nov 2005	Message Posted: Mar 14, 2010 8:20:24 PM Ignore Pete12 Report Abuse Just another example of the speculators using news they can to justify price increases.
mplato Champion Author Columbia Posts:4,236 Points:1,015,685 Joined:Jun 2004	Message Posted: Mar 14, 2010 8:20:18 PM Ignore mplato Report Abuse speculators are having a field day
Rageagainsttm Champion Author Tampa Posts:3,676 Points:964,585 Joined:Jul 2007	Message Posted: Mar 14, 2010 8:19:39 PM Ignore Rageagainsttm Report Abuse I don't see a reason to be optimistic when unemployment keeps getting higher.
badtazz Sophomore Author Washington Posts:222 Points:81,445 Joined:Jan 2010	Message Posted: Mar 14, 2010 8:18:19 PM Ignore badtazz Report Abuse I think they can get oil back down to $70 a barrel if the speculators stay out of it.
comet64 Champion Author Illinois Posts:1,250 Points:258,825 Joined:Feb 2006	Message Posted: Mar 14, 2010 8:18:01 PM Ignore comet64 Report Abuse I need gold
Daveyfudd All-Star Author Jackson Posts:868 Points:211,400 Joined:May 2008	Message Posted: Mar 14, 2010 8:15:00 PM Ignore Daveyfudd Report Abuse One day consumers are spending more, the next day they are less optimistic. What does this tell us all?
30mpg80 Champion Author Lexington Posts:1,360 Points:513,020 Joined:Nov 2008	Message Posted: Mar 14, 2010 8:01:47 PM Ignore 30mpg80 Report Abuse usual wiggle, not news
HybridPete Champion Author Detroit Posts:4,573 Points:895,970 Joined:Jan 2008	Message Posted: Mar 14, 2010 8:01:10 PM Ignore HybridPete Report Abuse More speculation BS!
opecsucks76 Champion Author Milwaukee Posts:1,460 Points:448,795 Joined:Jan 2009	Message Posted: Mar 14, 2010 7:55:43 PM Ignore opecsucks76 Report Abuse How is a 2 cent drop newsworthy?
ftsgt Champion Author Illinois Posts:8,418 Points:1,668,635 Joined:Dec 2004	Message Posted: Mar 14, 2010 7:50:36 PM Ignore ftsgt Report Abuse just normal up and down
cuspid All-Star Author Michigan Posts:570 Points:396,205 Joined:Jun 2008	Message Posted: Mar 14, 2010 7:49:09 PM Ignore cuspid Report Abuse wow 2cents now thats a start.
donny47 All-Star Author New Hampshire Posts:847 Points:351,120 Joined:Feb 2009	Message Posted: Mar 14, 2010 7:48:24 PM Ignore donny47 Report Abuse more has to be done for fuel efficiency.
TBRR Champion Author Jacksonville Posts:1,330 Points:234,660 Joined:Dec 2007	Message Posted: Mar 14, 2010 7:38:24 PM Ignore TBRR Report Abuse when the speculators drop in price, OPEC is not required to sell it to them at their price with the glut. new field need to be opened up and keep the money paid in our country. keep up conserving and help keep the demand down.
Rajah Champion Author Illinois Posts:4,712 Points:1,513,720 Joined:Jul 2005	Message Posted: Mar 14, 2010 7:33:46 PM Ignore Rajah Report Abuse 2 cents? How about 20 dollars for a start?
brus282 Champion Author North Carolina Posts:4,626 Points:943,225 Joined:Aug 2007	Message Posted: Mar 14, 2010 7:30:46 PM Ignore brus282 Report Abuse this is just more media spun crap, if it drops 2 cents then it will go up 3, the yoyo just keeps spinning
lkozark Champion Author Missouri Posts:2,358 Points:561,560 Joined:Jul 2007	Message Posted: Mar 14, 2010 7:30:03 PM Ignore lkozark Report Abuse Conservation and alternatives are our only hope.
TheSnowstorm Champion Author Montreal Posts:4,463 Points:1,005,630 Joined:June 2005	Message Posted: Mar 14, 2010 7:21:37 PM Ignore TheSnowstorm Report Abuse Want off the oil rollercoaster, the solution is simple: develop real alternative fuels like hydrogen now, not stuff like flex fuels, ethanol blends and other attempts to use the internal combustion that we all have grown to love. It's time to replace the thinking solutions of modifying existing technology with a completely new type of engine.
kruk Champion Author London Posts:2,843 Points:332,715 Joined:Jan 2007	Message Posted: Mar 14, 2010 7:21:22 PM Ignore kruk Report Abuse wow down 2 cents [Edited by: kruk at 3/14/2010 7:21:45 PM EST]
PDQBlues Champion Author San Diego Posts:2,294 Points:506,125 Joined:Jan 2009	Message Posted: Mar 14, 2010 7:20:39 PM Ignore PDQBlues Report Abuse Consumers know we're in a very long economic downturn.
jay4 Champion Author Colorado Springs Posts:5,792 Points:1,326,080 Joined:Apr 2006	Message Posted: Mar 14, 2010 7:20:32 PM Ignore jay4 Report Abuse Ripe for speculation.
uglytom Champion Author Florida Posts:3,121 Points:683,115 Joined:Jul 2007	Message Posted: Mar 14, 2010 7:20:12 PM Ignore uglytom Report Abuse Do not ever see fluctuations DOWN on gas prices no matter how low crude drops!
aldog365 Champion Author Nashville Posts:1,046 Points:1,145,360 Joined:Aug 2005	Message Posted: Mar 14, 2010 7:15:49 PM Ignore aldog365 Report Abuse Gold prices flucuate with the dollar.oil does too.Our dollar is worth less every day.